Asbestos

BRIEFCASE

May 14, 1993

KEENE CORP., a small industrial concern ravaged by asbestos lawsuits, asked a federal judge Thursday to consolidate nearly 100,000 claims for mass settlement outside bankruptcy court. Keene portrayed the request to divide its dwindling assets among an increasing number of plaintiffs as a possible solution to the legal crisis over asbestos, the insulation mineral linked to lung cancer and other ailments. But plaintiffs' lawyers said Keene was trying to block scrutiny of more than $200 million in asset sales in the 1980s. The case is being heard in U.S. District Court in Brooklyn, N.Y.